At the resumed trial of Dubai-based Nigerian man Ismaila Mustapha a.k.a Mompha on Wednesday January 15, it was alleged that he hid N32.9billion transactions from the Special Control Unit Against Money Laundering (SCUML) for 25 months.
EFCC accused the defendant of procuring Ismalob Global Investment Ltd. and retaining in its account, an aggregate sum of N32.9 billion between 2015 and 2018 between December 14, 2015 and January 25, 2018
Prosecution witness and an official of the Special Control Unit Against Money Laundering (SCUML), Mr. Matthew Enu-Obun told Justice Mohammad Liman that they had no record of the transaction as it was hidden and not reported.
According to the EFCC, Mompha who is not a financial institution or an authorised foreign exchange dealer, negotiated foreign exchange transaction in the sums of N9.416million, N20million, N10,437,400.00, N10miillion, N2.46million, N10miillion, N100million, N61million, N100million, N40.7million and N42million.
He also allegedly laundered money made from the transaction in tranches of N18,059,353,413 billion and N14,946,773,393.00 billion, an offence which contravened sections 15(2) and 18(3) of the Money Laundering (Prohibition) Act, 2011 as amended.
The case was adjourned for further hearing till February 26.
